Malabar India Fund Limited has announced the sale of 2,72,634 equity shares, representing 2.12% of its total shareholding, in Neuland Laboratories Ltd. The transaction was conducted in the secondary market. Following the sale, Malabar India Fund’s remaining stake in Neuland Laboratories is 5.06%. The disclosure is made in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Share Sale Disclosure
Malabar India Fund Limited has officially disclosed the sale of a substantial portion of its holdings in Neuland Laboratories Ltd. The transaction involved the sale of 2,72,634 equity shares, which equates to 2.12% of the total share capital. This sale was executed through the open market.
Post-Sale Holdings
Following this transaction, Malabar India Fund Limited’s remaining shareholding in Neuland Laboratories Ltd. now stands at 6,48,737 equity shares. This represents 5.06% of the total share capital. The company has submitted this disclosure as per the requirements of Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Transaction Details
The shares sold were ordinary equity shares carrying voting rights. The disclosure indicates that the sale was conducted in the secondary market, and no other instruments like warrants or convertible securities were involved in this specific transaction. The sale occurred between August 10, 2024 and August 14, 2026.
Source: BSE
